St. Maarten Marine Trades Association welcomes funding increase

POSTED: 08/12/11 7:12 PM

St. Maarten – The St. Maarten Marine Trades Association (SMMTA) expressed its appreciation to Minister of Tourism, Economic Affairs, Transportation and Telecommunications Franklin Meyers Thursday for the intention to increase the annual subsidy to the Heineken Regatta. The minister wants to give the Regatta and Carnival 500, 000 guilders next year. His intention, which is aimed at giving the two events more marketing funds, still needs to be ratified as part of the approval of the 2012 Budget.
“The significance of this commitment announced by Minister Meyers to both the Regatta and Carnival, the two largest cultural events on St. Maarten, should be applauded,” a release sent by the association’s administrator Christian Smith stated.
“The secured increase in funding early in the event’s planning stages greatly adds to the return on the value of those funds in promotional gains. Independent statistical reviews have reported that the overall benefit to the island during Regatta weekend is approximately $9 million. Access to increased promotional funds will ensure that the Regatta continues for many years to come and allows for Serious Growth potential which will greatly benefit the island,” Smith also stated.

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